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Costs & Budgets (202500-META-CPTG12114-EN)
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Answer questions 12 to 14 using the information below:
Current information relates to the third quarter. As part of its budget process, Indian Restaurant Bishan (BIR) has developed the following static budget for the third quarter with a plan to serve 10,000 meals. BIR is in the process of preparing the flexible budget and understanding the results.
|
Current results
|
|
Budget Flexible
|
|
Static budget
|
Sales (in units)
|
11,000
|
|
|
|
10,000
|
Turnover
|
$238,000
|
|
…………..$
|
|
$230,000
|
Variable costs
|
$150,000
|
|
…………..$
|
|
$180,000
|
Variable cost margin
|
$88,000
|
|
…………..$
|
|
$50,000
|
Fixed costs
|
$36,000
|
|
…………..$
|
|
$35,000
|
Operating income
|
$ 52,000
|
|
…………..$
|
|
$ 15,000 |
The amount of fixed costs in the flexible budget will be:
What is the purpose of calculating a sales mix
Which of the following answer is the most complete answer ?
An analysis of production cost variances may reveal ____
What are the benefits of variance analysis?
Which of the following four statements is a prerequisite for carrying out a detailed variance analysis?
Answer questions 12 to 14 using the information below:
Current information relates to the third quarter. As part of its budget process, Indian Restaurant Bishan (BIR) has developed the following static budget for the third quarter with a plan to serve 10,000 meals. BIR is in the process of preparing the flexible budget and understanding the results.
|
Current results
|
|
Budget Flexible
|
|
Static budget
|
Sales (in units)
|
11,000
|
|
|
|
10,000
|
Turnover
|
$238,000
|
|
…………..$
|
|
$230,000
|
Variable costs
|
$150,000
|
|
…………..$
|
|
$180,000
|
Variable cost margin
|
$88,000
|
|
…………..$
|
|
$50,000
|
Fixed costs
|
$36,000
|
|
…………..$
|
|
$35,000
|
Operating income
|
$ 52,000
|
|
…………..$
|
|
$ 15,000 |
The price variance for variable costs is:
What is the best definition below of the objective of management by exception
What doesn't a variance analysis allow you to do?
What is a yield or efficiency variance?
Recyclable Bicycles is marketing a new electric bike made entirely from recycled materials. Convinced of the success of his model, the manager hopes to sell 200 at a price of 1,200 euros by Christmas.
At the end of December, he sold 220 bikes, but was forced to offer average discounts of 20% to customers in the face of competition from Decathlon, which launched its recyclable bike at the same time.